Cypriot banks have made more profit from the increase in interest rates than their counterparts in the European Union, said Moody’s Senior Analyst Christos Theofilou. He told news site Stockwatch that Cypriot banks could have a more considerate approach towards the economy and households, as they have one of the highest rates for loans and
More
By Mark Haefele, Global Wealth Management Chief Investment Officer, UBS AG US inflation accelerated in August, with the consumer price index rising by 0.6% month over month – the fastest pace since June 2022. That followed two straight months of headline inflation at 0.2%. On an annual basis the rate of inflation picked up to
More
The value of Cypriot bonds held by the Eurosystem fell below €7 bln as the European Central Bank continues to deleverage its balance sheet in an effort to tame inflation. Based on the available data that CNA processed, the value of Cypriot bonds on the Eurosystem’s balance sheet through the Public Sector Asset Purchase Programs
More
Archbishop Georgios has come out in support of sex education in schools saying it is better for children to be informed and in a position to protect themselves in cases of sexual harassment. He made the statement following a meeting with Education Minister Athena Michaelidou, during which the Archbishop approved the sexual education curriculum. The
More
Five Cypriot MEPs cited the reference to the need for an alternative to accession for Ankara as the reason for abstaining during the European Parliament’s progress report vote on Turkey. MEPs also cited references to the Parliament’s support for a potentially upgraded Customs Union, with some citing the language as problematic and references to the
More
The government will further support the growth of the financial services sector by bolstering the regulatory framework, strengthening supervision, and ensuring effective enforcement, said President Nikos Christodoulides. He pledged on Wednesday evening at the inauguration of MUFG Investor Services new offices in Limassol. “Creating favourable conditions for the financial services sector is at the cornerstone of
More
A significant annual increase of 17.2% was recorded in the number of job vacancies in the second quarter of 2023, while a 5.7% quarterly rise was recorded. According to data by the Statistical Service of Cyprus, the number of job vacancies in Q2 2023 reached 13,027, recording an increase of 1,914 vacancies (17.2%) compared to
More
The government decided to slash taxation on interest income from 30% to 17%, Finance Minister Makis Keravnos said, hoping banks will follow suit in boosting revenue for depositors. During the 2013 financial crisis, the then government doubled the taxation on interest income to 30% as part of the measures to boost depleted public revenue. After
More
The Cyprus Church is eyeing the development of the historic Ledra Palace Hotel into an events venue, as the United Nations Peacekeeping Force (UNFICYP) may stop using the Nicosia landmark as a barracks for its personnel. The Church-owned Ledra Palace Hotel has been used by the United Nations since 1974 to accommodate Unficyp military personnel
More
Cyprus has the highest ratio of caesarean sections compared to its population among EU states, having recorded 687 caesarean sections per 100,000 inhabitants. This is according to Eurostat data on the two most common surgical operations and procedures performed in EU hospitals, namely cataract surgeries and caesarean sections. In 2021, 1.14 million caesarean sections were
More
